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Drilling Update - BAM Gold Project Junior Lake Property

09.09.2021  |  CNW

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No 596/2014

(AIM Ticker: LND.L)

LONDON, Sept. 9, 2021 - Landore Resources Ltd. (AIM: LND) ("Landore Resources" or "the Company") is pleased to provide an update on the progress of the drilling programme for 2020-21 (the "Drilling Programme") on the BAM Gold Deposit, Junior Lake Property, Ontario, Canada ("BAM Gold Deposit").

Highlights

  • Drilling results from below the BAM East defined pit between 2550E and 2750E have continued to report wide zones of ore grade gold mineralisation within the gabbro 'hanging wall' unit, with drill hole 0421-809 intersecting 15.00 metres at 2.48 grams per tonne gold, including 1.00 metre at 22.60 grams per tonne gold. There have been multiple sightings of visible gold in the drill core.

BAM Gold Deposit:

To date a total of 21,933 metres of HQ diamond core drilling, comprising 94 drill holes, (0420-725 to 0421-818) have been completed in this Drilling Programme of which 10,129 metres for 41 drill holes were drilled below the existing BAM Gold Deposit from 1000E to 3000E aimed at deepening and extending the existing resource. Assay results are outstanding for seven drill holes.

Results not previously reported include:

Easting

Northing

Drill-hole

From

Interval*

Au



No

Metres

Metres

g/t

2750E

100S

0421-808

103.65

14.05

0.61



and

193.73

6.17

1.45

2700E

150S

0421-809

154.30

1.00

11.35



and

168.30

15.00

2.48



including

171.30

4.00

7.36



including

174.30

1.00

22.60



and

195.55

3.00

4.07



including

195.55

1.00

10.75



and

252.11

1.09

3.07

2600E

100S

0421-810

180.26

6.05

0.80



and

195.19

8.67

1.02

2550E

60S

0421-811

138.80

1.33

1.92



and

175.63

3.96

2.87



including

178.60

0.99

9.33



and

200.51

2.66

0.96



and

233.95

8.27

0.86



and

280.50

1.06

8.80

* The drill holes were drilled north at 45 degrees into a lithological package dipping approximately 60 to 50 degrees to the south. The actual true thickness of mineralisation is estimated to represent 75% to 85% of the intervals shown in the above table

2020-2021 Drilling Programme:
The Drilling Programme, consisting of a total of 23,000 metres of HQ diamond core drilling, commenced on October 15th, 2020 and was designed to further infill and extend the defined BAM Gold Deposit resource of 1,015,000 ounces.

The Drilling programme, on the BAM Gold Deposit and immediate exploration to the east and west, concluded on the 1st August with the completion of drill-hole 0421-818 on the West pit extension. Sample preparation has been completed with assay results now expected to be received by late-September after which the data will be collated and forwarded to the Engineers for the Resource Update.

Planning:
Drilling will re-commence in mid-October at the highly prospective Felix area along strike and to the west of the BAM Gold Deposit.

Landore has engaged Cube Consulting of Perth Western Australia to complete a Mineral Resource Estimate ("MRE") and Preliminary Economic Assessment ("PEA") update on the BAM Gold Deposit now scheduled for completion in Q4 2021.

BAM GOLD DEPOSIT:
The BAM Gold Deposit is located approximately mid-way along a highly prospective Archean greenstone belt which traverses the Junior Lake Property from east to west for approximately 31 kilometres. The favorable greenstone belt ranges from 0.5 to 1.5 kilometres wide and hosts multiple known gold occurrences including the Lamaune Gold Prospect.

The Junior Lake Property:
The Junior Lake Property, 100% owned by Landore Resources, together with the contiguous Lamaune Iron property (90.2% owned) (jointly the "Junior Lake Property"), consisting of 30,507 hectares, is located in the province of Ontario, Canada, approximately 235 kilometres north-northeast of Thunder Bay and is host to: The BAM Gold Deposit; the B4-7 Nickel-copper-cobalt-Platinum-Palladium-gold Deposit; the VW Nickel-Copper-cobalt Deposit; Lamaune Gold Prospect and numerous other precious and base metal occurrences.

Covid-19
The Company is following Government Covid-19 guidelines in its operations in Canada.

Michele Tuomi, (P.Geo., BSc. Geology), Director/VP Exploration of Landore Resources Canada Inc. and a Qualified Person as defined in the Canadian National Instrument 43-101 and the AIM Rules for Companies, has reviewed and verified all scientific or technical mining disclosure contained in this announcement.

About Landore Resources
Landore Resources is an exploration company that seeks to grow shareholder value through the acquisition, exploration and development of precious and base metal projects in eastern Canada. The Company is primarily focused on the development of the Junior Lake Project. Landore Resources has mineral rights to 5 properties in eastern Canada. The Company is headquartered in Guernsey, with an

Exploration office located in Thunder Bay, Ontario, Canada.

SOURCE Landore Resources Canada Inc.



Contact
Landore Resources Ltd., Bill Humphries, Chief Executive Officer, Tel: 07734 681262; Glenn Featherby, Finance Director, Tel: 07730 420318; Cenkos Securities (Nominated Advisor and Broker), Derrick Lee / Peter Lynch, Tel: 0131 220 9100
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